EO CHARGING TO BECOME A U.S. PUBLICLY LISTED COMPANY THROUGH BUSINESS COMBINATION WITH FIRST RESERVE SUSTAINABLE GROWTH CORP.
-
EO is a leading technology-enabled electric vehicle (“EV”) charging solutions provider to fleet operators across the UK, Ireland and Europe
-
EO’s track record in delivering EV charger hardware design, manufacturing, installation and hardware-agnostic charging management software and services enables its customers to transition to electric vans, trucks, buses and car fleets efficiently and economically
-
EO has deployed approximately 50,000 chargers in over 35 countries and serves some of the world’s largest fleet operators including Amazon, DHL, Go-Ahead, Tesco and Uber
-
As an early leader in providing comprehensive EV fleet charging solutions across Europe, one of the most advanced electrification markets in the world, EO has significant scope to scale and replicate its home-market success on a global level
-
Transaction implies a pro-forma enterprise value of the combined company of $675 million; expected to provide in excess of $150 million in cash to the company assuming no redemptions from FRSG stockholders; current EO management and shareholders to maintain a significant stake in the combined company
-
Combination would position EO as the first UK-based EV charging company to list on public markets
-
Combined company to trade on Nasdaq under the symbol “EOC”; transaction expected to close in the fourth calendar quarter of 2021
Read the full story at https://www.eocharging.com/news/eo-charging-business-combination
More on the transaction at https://www.eocharging.com/news/eo-announces-filing-of-f-4
Photo credit: EO charging